A critical component of your business plan is a strategy for managing your company’s operations. A comprehensive financial plan needs to answer the following questions: Strategy Describe how you will fund and grow your company Financial projections Income for 3-5 years Balance sheet Cash flow Breakeven analysis Sensitivity analysis Assumptions – revenue forecast, cost of […]
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A critical component of your business plan is a strategy for managing your company’s operations. A comprehensive operations plan needs to answer the following questions: Operations strategy How will operations add value? What will you emphasize – cost, quality, timeliness, flexibility? Does your process give you a competitive advantage? Scope of Operations In-house or outsource?
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There is no set structure for an executive summary, but there are guidelines you must follow to ensure your business plan or investment proposal gets the attention it deserves. A well-written executive summary needs to contain the following elements, among others: Vision – What problems are you trying to solve? What are your guiding principles?
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“By failing to plan, you are planning to fail.’’ (Benjamin Franklin, Inventor, and Businessman) As a budding entrepreneur, the need for a well-written plan that communicates your intentions to internal and external stakeholders cannot be over-emphasized. The purposes of a business plan include: A business plan describes the venture you will create to exploit an
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5 Lessons on Marathon Preparat…
5 Lessons on Marathon Preparation for Entrepreneurs Read More »
Understanding Contracts From a…
Understanding Contracts From a Legal Perspective Read More »
